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A few years from now, the asset and wealth management business may expect to face disruptive innovation in the form of shifting consumer expectations, declining profits, rising regulatory pressure, and intensifying competition from fin-tech companies.

By optimizing the customer and advisor experience, digitalizing the platform to boost STP, agility, and cost stabilization, and reducing manual business procedures, asset and wealth management businesses may take advantage of the opportunities presented by the current trends.

The current landscape

Clients are putting pressure on the present client interaction paradigm in wealth management, calling for greater personalization and efficiency in light of the new digital world, where flexibility and convenience prevail. Wealth managers face internal challenges due to declining earnings and increasing restrictions, despite the usual difficulties of adapting to shifting consumer expectations.

The foundation of the conventional approach to wealth management is based on the cultivation of close personal connections with clients, which in turn is supported by many manual processes and face-to-face encounters. This, together with the growing regulatory load, has kept wealth managers from fully embracing digital transformation.

Customers in today’s always-on digital society want innovative digital services that are both quick and easy to use. Similarly, advisers who can effectively create, implement, and maintain financial plans using efficient and dependable tools are more likely to expand their client base and AUM.

The deep domain expertise to lead digital transformation in wealth management resides in banking tech firms like Maveric Systems.

Digital Evolution of Advice

Digital change in wealth management may be seen throughout the entire value chain, beginning with client on-boarding and ending with fulfillment and trade.

  1. Initiating a relationship with a client: Offering options for account opening via video chat, electronic signatures, online ID verification, and bio metric authentication are just a few examples of the cutting-edge technologies that others are adopting to digitize the on-boarding process.
  2. Advice: Releasing a set of mobile apps for banking on the go. The software offers users individualized material, transactional resources, and multi-channel teamwork possibilities. This is an example of how digital technology is being used to revolutionize wealth management.
  3. Help with the sale: During client meetings, providers develop tablet apps to aid relationship managers by leading them through an innovative, adaptable, and interactive sales process and centralizing all pertinent sales operations.
  4. Advice on making financial investments: Offering clients individual “health checks” to help them spot any problems with their assets and get them back on track.
  5. Buying, selling, and other forms of transactional fulfillment: To facilitate stock and fund trading among their clientele, many wealth managers are developing digital solutions that take the form of online social marketplaces.


This new era of digital innovation is upon us. At the same time, the first digital revolution 30 years ago focused on digitizing information with the advent of the internet. Today, the focus is on digitizing assets, wherein anything of value may be reduced to a digital representation and traded like any other commodity. That might permeate all of the private client industry.

Private client advisers are utilizing technology to improve efficiency, save costs, broaden their product offerings, and mitigate risk as they reach out to the upcoming generation.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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Maveric Systems